Fact Check: Argentina

958 days, 18 hours, 36 minutes ago


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Wednesday, April 8, 2015

BUENOS AIRES, April 8 (DyN) – American Task Force Argentina (ATFA) today had harsh criticism for Economy Minister Axel Kicillof, by saying that his “attack” on Citibank “shows the world that Argentina is not a friendly place for investments or business.”

The organization, which describes itself as “an alliance of individuals and organizations united for a fair and equitable settlement of default and restructuring of sovereign debt of the Argentine government,” said the press conference by Kicillof was “another desperate attempt at distraction.”

“If Kicillof is upset with Citi it is because it destroyed his false narrative about the creditors. To attack the holders of defaulted bonds (of which there are several thousand) and Citibank is also an attempt by Kicillof to distract the Argentine public from his terrible record as Economy Minister,” ATFA said in a statement.

To ATFA, “Kicillof must have been quite embarrassed that Citi was able to reach an agreement with Argentina’s creditors, because the minister spent a lot of energy in the past years trying to falsely paint the creditors as intransigent.”

After exhausting the courts in New York, the entity said the minister, “began a broad campaign of intimidation against Citi” which, in turn, “to avoid further harassment” negotiated “a resolution with the bondholders” and “abandoned its custody business.”

According to ATFA, “the creditors have made it clear they would like to negotiate a mutually beneficial solution with Argentina” and that “the immediate economic benefits from the resolution of this dispute are well documented.”

However, for the entity, Kicillof “refuses to sit down” to negotiate and even “would prefer to have more litigation” to the point that “now he wants to sue Citi”.

“By making unfounded accusations against Argentina’s creditors and companies, Kicillof is showing the world that Argentina is not a friendly place for investments or for business,” said ATFA, for whose members “this only hurts the Argentine economy and hinders the prosperity of its people. ”

The entity warned that “Kicillof can continue to rant against the creditors, but he’s doing nothing to end the dispute with them” and concluded its statement urging “starting a dialogue to end the default of 2001.”

View Original Article: Lobbystas buitres dicen que “Argentina no es amigable para las inversiones”